American Airlines reached tentative agreement with all three of its unions, avoiding bankruptcy, a source familiar with the situation said Monday.
The source, who spoke on condition of anonymity, said technicalities still needed to be worked out, but that it appeared that American, the world's largest carrier, achieved the $1.8 billion in labor concessions that it needed to avert Chapter 11. Any agreements reached between union and company negotiators would still need to be voted upon by the employees.
Negotiators for American and unions representing pilots, flight attendants and mechanics were still meeting Monday afternoon at the airline's training center.
© 2003 The Associated Press
